Truist Financial Corp Acquires 1,359 Shares of Range Resources Co. (NYSE:RRC)

Truist Financial Corp increased its holdings in Range Resources Co. (NYSE:RRC) by 0.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 207,430 shares of the oil and gas exploration company’s stock after purchasing an additional 1,359 shares during the quarter. Truist Financial Corp owned approximately 0.09% of Range Resources worth $7,463,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. M&T Bank Corp grew its stake in shares of Range Resources by 3.1% in the third quarter. M&T Bank Corp now owns 10,790 shares of the oil and gas exploration company’s stock worth $332,000 after purchasing an additional 327 shares during the last quarter. Commerce Bank grew its stake in shares of Range Resources by 5.7% in the third quarter. Commerce Bank now owns 6,848 shares of the oil and gas exploration company’s stock worth $211,000 after purchasing an additional 369 shares during the last quarter. CIBC Asset Management Inc grew its stake in shares of Range Resources by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 7,435 shares of the oil and gas exploration company’s stock worth $268,000 after purchasing an additional 378 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Range Resources by 0.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 66,630 shares of the oil and gas exploration company’s stock worth $2,397,000 after purchasing an additional 420 shares during the last quarter. Finally, UMB Bank n.a. grew its stake in shares of Range Resources by 59.0% in the fourth quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company’s stock worth $41,000 after purchasing an additional 426 shares during the last quarter. 98.93% of the stock is owned by institutional investors.

Range Resources Trading Down 3.0 %

Shares of RRC stock opened at $38.47 on Friday. Range Resources Co. has a 1 year low of $27.29 and a 1 year high of $41.95. The firm has a fifty day moving average price of $37.58 and a 200-day moving average price of $33.64. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54. The company has a market cap of $9.28 billion, a price-to-earnings ratio of 19.43, a PEG ratio of 5.14 and a beta of 1.77.

Range Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date was Friday, December 13th. Range Resources’s payout ratio is 16.16%.

Analysts Set New Price Targets

RRC has been the subject of several research analyst reports. Barclays raised their price objective on shares of Range Resources from $34.00 to $40.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Wells Fargo & Company raised their price objective on shares of Range Resources from $38.00 to $40.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. UBS Group raised their price objective on shares of Range Resources from $39.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Stephens raised their price objective on shares of Range Resources from $39.00 to $43.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Finally, Benchmark restated a “hold” rating on shares of Range Resources in a report on Friday, January 17th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $38.78.

About Range Resources

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), crude oil, and condensate company in the United States. The company engages in the exploration, development, and acquisition of natural gas and crude oil properties located in the Appalachian region. It sells natural gas to utilities, marketing and midstream companies, and industrial users; NGLs to petrochemical end users, marketers/traders, and natural gas processors; and oil and condensate to crude oil processors, transporters, and refining and marketing companies.